Huo Xing Finance reports that on August 4, according to TradingBeats monitoring, among Hyperliquid’s five popular assets—SKHX, MU, SNDK, SPCX, and CXMT—the single address with the highest total order value placed six large orders, with a notional value of approximately $30.442 million. The only newly opened position was a long order for SNDK at a lower price. The specific positioning is as follows: SNDK: Currently trading at $1,292, up 3.4% in 24 hours; Q4 and annual earnings to be released on August 5. SNDK is currently trading at $1,292, up 3.4% in 24 hours, with a trading volume of approximately $486 million and an open interest value of about $117 million. The current hourly funding rate is approximately -0.0013%, meaning funding is paid from short to long positions. Top Order Address 0x0ad9: Currently holds 3,890.8 long contracts of SNDK, with a position value of approximately $5.028 million, an average entry price of $1,287, and a floating profit of about $20,000. This address placed a new buy order for $2.5 million at $1,187 and a “reduce-only” sell order for $5.435 million at $1,397—8.1% below and 8.1% above the current price, respectively—establishing a range-bound trading strategy around the current price ahead of earnings. SPCX: Currently trading at $115.98, up 6.5% in 24 hours; recent catalysts include its first post-IPO earnings report and lock-up expiration. Top Order Address 0x0871: Took a 20x leveraged long position of 50,000 SPCX contracts, with a position value of approximately $5.797 million, an average entry price of $126.36, a floating loss of about $521,000, and a liquidation price of approximately $73.50. This address placed a “reduce-only” sell order for $7.65 million at $153—covering the entire position. This price is 31.9% above the current price and 21.1% above its entry cost, and also above the $135 IPO price, indicating continued belief in a stronger rebound after the negative news from earnings or lock-up expiration is absorbed. SKHX: Currently trading at $1,072, down 3.6% in 24 hours. Top Order Address 0x364a: Took a 2x leveraged long position of 5,488.2 SKHX contracts, with a position value of approximately $5.888 million, an average entry price of $1,288.60, and a floating loss of about $1.184 million. This address has placed a “reduce-only” sell order at $1,305 to fully close the position, with an order value of approximately $7.162 million. This price is 21.7% above the current price but only 1.3% above its entry cost—waiting for SKHX to rebound above its cost basis before exiting. MU: Currently trading at $830.50, down 1.3% in 24 hours. Top Order Address (also 0x0ad9): Took a 2x leveraged long position of 11,100 MU contracts, with a position value of approximately $9.186 million, an average entry price of $856.40, and a floating loss of about $284,000. This address has placed a “reduce-only” sell order for $4.5 million at $860—targeting the sale of 5,232.6 contracts, reducing approximately 47.3% of the position. The sell price is only 0.4% above the entry cost, indicating the address does not wait for MU to return to previous highs but instead plans to reduce exposure near breakeven. CXMT: Currently trading at $7.984, up 2.0% in 24 hours. Top Order Address 0x934d: Took a 4x isolated long position of 255,600 CXMT contracts, with a position value of approximately $2.043 million, an average entry price of $6.30, a floating profit of about $433,000, and a liquidation price of approximately $4.30. This address has placed a “reduce-only” sell order for $3.195 million at $12.50—covering the entire position. This price is 56.6% above the current price and 98.5% above the entry cost, aiming to double profits before exiting.
Hyperliquid's Top 5 Assets See $30.4M in Large Orders Ahead of Earnings
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Summary
As of August 4, 2026, Hyperliquid’s top five assets—SKHX, MU, SNDK, SPCX, and CXMT—recorded $30.44 million in large single-address orders. Value investing in crypto is gaining traction, as SNDK’s long position rose to $1,292, up 3.4% in 24 hours. Key addresses are actively buying and selling near support and resistance levels ahead of earnings reports and lock-up expirations.
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